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Introduction to Price Indices

Country Practices and Related Information

Course Outline

Course aim

The aim of this course is to provide participants with a basic understanding of price indices, the outputs of the Prices business unit (of Statistics New Zealand) and the relationship/link to other units within Statistics New Zealand.

Pre-course understanding

Prior to undertaking this course it is desirable (although not essential) that participants have attended the Introduction to Economics for Non-Economists course or have an equivalent understanding of economic concepts.

At the end module I, participants should be able to

  • Understand the Prices unit structure (of New Zealand) and its work
  • Describe what a price index is and its place in the economy
  • Explain the basics of each price index output, including their main uses and coverage
  • Discuss the differences between price, weight and index reference periods
  • Interpret price index numbers, percentage changes and index points contribution.

At the end module II, participants should be able to

  • Understand common index formulae and their concepts
  • Distinguish the differences between index formulae described in this module
  • Describe how a index formula can be applied
  • Understand how a price index is constructed
  • Understand the process of developing and maintaining a price index.

Provider: Statistics New Zealand

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